Dogecoin ETF Speculation Fuels Breakout Setup: Can DOGE Jump 50% Now?

Dogecoin (DOGE) looks primed for a breakout rally, with technicals and ETF speculation aligning to boost bullish sentiment.

Bull Pennant Breakout Enables 50% DOGE Price Rally Setup

On Sept. 8, DOGE/USD broke out of a multi-week bull pennant structure, a continuation pattern that typically appears after a strong uptrend.

The breakout suggests the meme cryptocurrency could extend its recovery toward the $0.349 level, about 50% higher than current prices around $0.23.

This upside target coincides with the 0.618 Fibonacci retracement line of the November 2024–March 2025 correction, making it a strong technical resistance zone.

The breakout comes as DOGE oscillates inside a broader ascending channel since April.

Prices recently rebounded from the channel’s support trendline, signaling that bulls remain in control and raising the likelihood of another test of the upper channel boundary near $0.32–0.35.

Several indicators add weight to the bullish outlook:

• 50-day EMA support: DOGE has reclaimed its 50-day exponential moving average (EMA; red), now an immediate support level near $0.218.
• 200-day EMA confirmation: The 200-day EMA (blue) at $0.211 continues to underpin the long-term bullish structure, with both EMAs trending upward.
• RSI strength: The relative strength index (RSI) hovers around 56 — neutral but with room to expand before overbought conditions emerge.

DOGE ETF Approval Buzz Adds To Bullish Sentiment

Beyond charts, sentiment around Dogecoin is heating up thanks to regulatory speculation.

Bloomberg ETF analyst Eric Balchunas recently suggested that a Dogecoin ETF could secure regulatory approval ahead of nearly 95 other crypto funds currently in line.

JUST IN

Rex-Osprey’s $DOGE ETF could arrive as soon as next week, says Bloomberg’s Eric Balchunas. pic.twitter.com/GP9bHooXTK

— Karan Singh Arora (@thisisksa) September 5, 2025

The prospect of a DOGE ETF has excited traders who see parallels to Bitcoin and Ethereum ETF launches earlier this year, both triggering significant inflows and price rallies.

Still, there is no guarantee of approval, but the discussion alone adds speculative fuel to the Dogecoin market, with DOGE having jumped by over 10.20% since Friday.

What Could Change This Outlook

DOGE’s bullish setup faces challenges.

The $0.265 level—the 0.382 Fib retracement—represents the first significant resistance. Failing to hold above it could invalidate the pennant breakout and push DOGE back toward the $0.20–$0.21 support zone.

Moreover, ETF speculation is notoriously fickle, and any delay or denial could trigger sharp downside volatility.